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Dec 23, 2012
12/12
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he was a deficit hawk, boy, we could use him today, who controlled government spending and taxes. the famous speech warning against the industrial complex was at the end of the presidency, but worked on it all along behind the scenes. heaven help us he liked to say when we get a president who knows less about the military than i do. it was not about the economy or saving money. in the berlin crisis and earlier crisis with korea and vietnam in 1953 over the strait in 1954-55 and 1958 in the suez crisis in 1956, he was planning a bigger gain for higher stakes. west point cadet and young army officer, ike was a great poker player, and, indeed, so good, he had to give it up. he was taking too much money from the fellow officers hurting his career. he switched to bridge, but he never forgot how to bluff. the soviets, he bluffed with nuclear weapons. as only a real warrior can, ike hated war. curiously, the great war hero was never in combat. in world war i, he was training troops to his great chagrin, and world war ii, he was too valuable and knew too much to risk getting captured or k
he was a deficit hawk, boy, we could use him today, who controlled government spending and taxes. the famous speech warning against the industrial complex was at the end of the presidency, but worked on it all along behind the scenes. heaven help us he liked to say when we get a president who knows less about the military than i do. it was not about the economy or saving money. in the berlin crisis and earlier crisis with korea and vietnam in 1953 over the strait in 1954-55 and 1958 in the suez...
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Dec 30, 2012
12/12
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WUSA
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the overall fiscal pressures are going to push us that way because of the deficit issue. and the one thing i would like to add is, these choices of what systems to cut or what forces to cut would be far less difficult if we could make the defense department more efficient. and we identify in the study some $900 billion in potential savings just through greater efficiency, particularly in the way we utilize manpower. so if we could pocket that, then we wouldn't to have cut our combat forces as much. >> but let me ask you something that i've asked almost everybody in the administration. the administration is banking on huge savings from better buying power, reorganizing processes and becoming more efficient, but the trouble is what happens if the savings don't materialize? where are we going to get savings in that case? >> well, the hope is that the fiscal -- because of the fiscal pressures, the services and the congress will be more cooperative in actually implementing these savings. these efficiencies are not made up by academics like myself. these were recommended by off
the overall fiscal pressures are going to push us that way because of the deficit issue. and the one thing i would like to add is, these choices of what systems to cut or what forces to cut would be far less difficult if we could make the defense department more efficient. and we identify in the study some $900 billion in potential savings just through greater efficiency, particularly in the way we utilize manpower. so if we could pocket that, then we wouldn't to have cut our combat forces as...
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Dec 27, 2012
12/12
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finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. there were some key elements. one was the proliferation of blue-collar workers in united states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do you invest them? where do you keep them? you keep them with the low inflation rate. that is one reason. one mechanism that helps attract the capital from the rest of the world and close the loop. wall street was another. it has an amazing capacity to create a metaphysical value out of nothing. walmart was another. is promoted the ideology of cheapness, which was calculated so brilliantly. nobody needs a gallon of pickles. i don't think it fits in a fridge. why was walmart producing it? i think it was a symbolic gest
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. there were some key elements. one was the proliferation of blue-collar workers in united states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do...
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Dec 22, 2012
12/12
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and i think that's a big problem when you have a $1.1 trillion deficit. the only thing this debate has really been about for the last five weeks has been about tax increases. you're right. the republicans are playing a pretty weak end. as you both know, if nothing happens, then all the taxes go up. part of me says look, the republicans have to get this behind them. go into 2013 where they'll have a stronger hand. on things like the debt ceiling, what do we do to bring down the rest of the trillion deficit. but right now they're stymied. but i do think that by january 1st, they will have a deal in hand. i still think so. >> joy reid, have those conservative republicans, who wouldn't go along with speaker boehner's plan b last night actually strengthen president obama's hand? because as between the two men, speaker boehner and president obama, one clearly now has the upper hand in terms of leverage and negotiation. >> yeah, completely. and president obama went into this with all of the leverage. and now he's just gotten more. look, at the end of the day, th
and i think that's a big problem when you have a $1.1 trillion deficit. the only thing this debate has really been about for the last five weeks has been about tax increases. you're right. the republicans are playing a pretty weak end. as you both know, if nothing happens, then all the taxes go up. part of me says look, the republicans have to get this behind them. go into 2013 where they'll have a stronger hand. on things like the debt ceiling, what do we do to bring down the rest of the...
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Dec 27, 2012
12/12
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too much deficit reduction, too quickly, and we could push the economy into a recession. that's just dumb. >> it is very dumb. now, you've been in many, many, many of these negotiations? you've been in the backrooms of a lot of the ongoing negotiations, now, do you think they have any chance of getting a deal before the first of the year? >> i'm always hopeful, but i'm less hopeful as every day passes. the problem is the rhetoric that's flying back and forth between republicans and democrats sounds like we're still having an election that it never was over. i think that now -- now that we've had an election, and the american public has spoken, whatever they meant, it's time for the politicians to get together, come together as starbucks is saying, and get something done. nobody's going to get everything they want. but it's so much more important to solve the problem than for one side or the other to get what they want or blame the other. the atmosphere is just wrong. >> when you hear the argument for going over the cliff. when it's been told to me by both democrats and re
too much deficit reduction, too quickly, and we could push the economy into a recession. that's just dumb. >> it is very dumb. now, you've been in many, many, many of these negotiations? you've been in the backrooms of a lot of the ongoing negotiations, now, do you think they have any chance of getting a deal before the first of the year? >> i'm always hopeful, but i'm less hopeful as every day passes. the problem is the rhetoric that's flying back and forth between republicans and...
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Dec 29, 2012
12/12
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CSPAN
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unemployment insurance is available for 2 million people, and it lays the groundwork for additional deficit reduction and economic growth steps that we can take in the new year. let us not miss this deadline. that is the bare minimum we should be able to get done. it should not be hard since democrats and republicans say they do not want to see taxes go up on middle-class families. i have to repeat -- outside of washington, nobody understands how it is that this seems to be a repeat pattern over and over again. ordinary folks -- they do their jobs. they meet deadlines. they sit down and they discuss things and then things happen. if there are disagreements, they sort through the disagreements. the notion that our elected leadership cannot do the same thing is mind-boggling to them. it needs to stop. i am modestly optimistic that an agreement can be achieved. nobody will get 100% of what they want. let us make sure that middle- class families and the american economy and the world economy are not adversely impacted because people cannot do their jobs. thank you very much, everybody. >> today
unemployment insurance is available for 2 million people, and it lays the groundwork for additional deficit reduction and economic growth steps that we can take in the new year. let us not miss this deadline. that is the bare minimum we should be able to get done. it should not be hard since democrats and republicans say they do not want to see taxes go up on middle-class families. i have to repeat -- outside of washington, nobody understands how it is that this seems to be a repeat pattern...
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Dec 23, 2012
12/12
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CSPAN2
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eye 143
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he was a deficit hawk. he controlled government spending and package. his famous speech warning against military-industrial complex came at the end of his presidency but, in fact, he been working on it all a long. mostly behind the scenes. heaven help us, he liked to say, that we'll get a president who knows less about the military than i do. this approach to the military was not just about the economy. in the berlin crisis in 58-59 and in early crisis with korea and vietnam in 1953, 54, the almost straight, the suez crisis in 1956, eisenhower was playing a bigger game for higher stakes. a west point cadet and a young army officer, ike had been a great poker player. indeed, he was so good that he had to give it up. he was taking too much money from his fellow officers and it was hurting his career. he switched to bridge, but he never forgot how to block it with the soviets he bluffed with nuclear weapons. as only a real warrior can, ike hated war. seriously, the great war hero had never been in combat. in world war i had been stateside training troops t
he was a deficit hawk. he controlled government spending and package. his famous speech warning against military-industrial complex came at the end of his presidency but, in fact, he been working on it all a long. mostly behind the scenes. heaven help us, he liked to say, that we'll get a president who knows less about the military than i do. this approach to the military was not just about the economy. in the berlin crisis in 58-59 and in early crisis with korea and vietnam in 1953, 54, the...
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Dec 24, 2012
12/12
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CSPAN
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we are going to expand our dominance and are well by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of hours. and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. but if you are the united states of america and there are certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall street. thus closing the cycle, the recycling loop. so, effectively what we have between 1940's and 1971, 1973, you had global surpluses being recycled from united states to the rest of the world. the capitalist world. the western world. ok? so, the united states was an exporter to europe and japan. it was making profits. it was then recycling to europe and japan. so they would keep on buying. once the surplus shifted to japan, germany, and china, the idea t
we are going to expand our dominance and are well by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of hours. and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. but if you are the united states of america and there are certain other factors that i will touch upon later, what you can do is you can expand your deficit as long...
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Dec 22, 2012
12/12
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KGO
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. >> wall street sent a message loud and clear there is a major stake in the washington deficit talks. dow jones fell sharply today. the economists believe if we go over the fiscal cliff, it could trigger a reseegs still looking for holiday gifts in an affordable price? >> coming up next, some advice on price matching. >>> it's just one more weekend of shopping left. michael finney thought you might like to know how to find the best deals. >> dig box stores competing for the same customers with the same merchandise and they know they need to offer competitive prices in order to get your business. >> online a mobile shopping makes it easier for people to make sure they're getting the best deal. so retailers offering some policies this season. >> this is a great tool for price comparing. >> if it's a major purchase and expensive, tax adds up. so... i check just before to make sure i'm not getting ripped off. >> for the first time, many retailers launched price matching programs online and in their store autos if retailers don't do this, they're just not going to be able to compete. so i
. >> wall street sent a message loud and clear there is a major stake in the washington deficit talks. dow jones fell sharply today. the economists believe if we go over the fiscal cliff, it could trigger a reseegs still looking for holiday gifts in an affordable price? >> coming up next, some advice on price matching. >>> it's just one more weekend of shopping left. michael finney thought you might like to know how to find the best deals. >> dig box stores competing...
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Dec 26, 2012
12/12
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. >> catherine, isn't it their deficit in large part deficit? >> of course, but they have political amnesia. ideology is the science of idiots. here's one of these moments where when you live inside the box and refuse to look at empirical evidence, refuse to understand history to show us how economies work, how tax cuts or increases affect populations, then they are going to follow this line of idiocy over their own, i think, political cliff. and the partisanship is going to wreak tremendous havoc on the republican party in the upcoming elections. >> we have limited time. i want to go back to john harwood. is there a time here, john, when we're going to see the markets start to react or are we expecting most traders to wait until after the first to make big decisions? >> i think that's when they reacted. if we go over the cliff, even for a couple of days, you're going to see a reaction. i think at the end of the day you will see action if we go over the cliff for a couple of days, because i don't agree with jonathan that they are immune to publi
. >> catherine, isn't it their deficit in large part deficit? >> of course, but they have political amnesia. ideology is the science of idiots. here's one of these moments where when you live inside the box and refuse to look at empirical evidence, refuse to understand history to show us how economies work, how tax cuts or increases affect populations, then they are going to follow this line of idiocy over their own, i think, political cliff. and the partisanship is going to wreak...
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Dec 28, 2012
12/12
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CNBC
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the problem with the fiscal cliff is it would put in place deficit reduction, but it would put in deficit reduction too much, too quickly, and with the wrong parts of the budget. so it would let all of the tax cuts expire, it would let many things like the alternative minimum tax hit the middle class. it would have a big, broad-based sequester that goes into place, not gradually, like we would want, to help not derail an economic recovery, but abruptly, and it deals with the wrong parts of the budget. so what you want to do is replace this big amount deficit reduction, all hitting just at the time when the economic recovery is starting to take hold, with a more thoughtful plan that's phased in gradually. so it doesn't do too much deficit reduction up-front, but it puts in the necessary changes to health care cost, retirement, tax reform, all over time and puts us on a sustainable path to a better place. >> let me ask you a central question. is america different from europe? can america continue to run huge budget deficits, because the feds can buy treasuries and prop up the market, and be
the problem with the fiscal cliff is it would put in place deficit reduction, but it would put in deficit reduction too much, too quickly, and with the wrong parts of the budget. so it would let all of the tax cuts expire, it would let many things like the alternative minimum tax hit the middle class. it would have a big, broad-based sequester that goes into place, not gradually, like we would want, to help not derail an economic recovery, but abruptly, and it deals with the wrong parts of the...
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Dec 28, 2012
12/12
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KCSM
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the eu is giving madrid more time to get its deficits in line. reductions in health spending are only part of the total to save, but the symbolic value of cutting medical care is great, and so is public anger. >> the son of pakistan's former prime minister has made his first political address. he told party supporters that he would carry forward his mother's legacy, saying that she had sacrificed her life for democracy. benazir bhutto was killed in a gun and bomb attack during her 2007 campaign. >> in student was brutally gang rape on a bus earlier this month, and the prime minister promised to review rape laws and punishments. demonstrators again took to the streets today, calling on the chief of the police department to step down. the government has also ordered an inquiry into the police handling of the case. meanwhile, the young woman whose case sparked the protests has flown to singapore for treatment. her situation remains critical. and internet where there are no political restrictions or government fire walls and were free discussion is t
the eu is giving madrid more time to get its deficits in line. reductions in health spending are only part of the total to save, but the symbolic value of cutting medical care is great, and so is public anger. >> the son of pakistan's former prime minister has made his first political address. he told party supporters that he would carry forward his mother's legacy, saying that she had sacrificed her life for democracy. benazir bhutto was killed in a gun and bomb attack during her 2007...
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Dec 27, 2012
12/12
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CSPAN
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eye 112
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and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. -- game over. but if you are the united states of america and there are certain -- and you have the reserve currency of the world, and certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall street. thus closing the cycle, the recycling loop. so, effectively what we have between 1940's and 1971, 1973, you had global surpluses being recycled from united states to the rest of the world. the capitalist world. the western world. ok? so, the united states was an exporter to europe and japan. it was making profits. it was then recycling to europe and japan. so they would keep on buying. once the surplus shifted to japan, germany, and china, the idea that volcker had was a we will swap this. we will just turn it on its head. we will e
and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. -- game over. but if you are the united states of america and there are certain -- and you have the reserve currency of the world, and certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall...
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128
Dec 22, 2012
12/12
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CSPAN
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for the last few weeks, i have been working with the leaders of both parties on a proposal to get our deficit under control, to avoid tax cuts -- to avoid tax hikes on the middle-class. and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending, but also ask the wealthiest americans to pay more, a proposal that will strengthen the middle class over the long haul, and our economy over the long haul. in the course of these negotiations, i offered to compromise with republicans in congress. i met them halfway on taxes and more than halfway on spending. today, i am still willing to get a comprehensive package done. i still believe that reducing our deficit is the right thing to do for the long-term health of our economy and the confidence of our businesses. i remain committed to working towards that goal, whether it happens all at once, or whether it happens in several different steps. but in 10 days, we face a deadline. in 10 days, under current law, tax rates are scheduled to rise on most americans. and even though democrats and republicans are arguing about w
for the last few weeks, i have been working with the leaders of both parties on a proposal to get our deficit under control, to avoid tax cuts -- to avoid tax hikes on the middle-class. and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending, but also ask the wealthiest americans to pay more, a proposal that will strengthen the middle class over the long haul, and our economy over the long haul. in the course of these negotiations, i offered to compromise...
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Dec 27, 2012
12/12
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CNBC
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amazon is fighting many deficit fronts, fighting google, netflix, fighting apple. when eventually everything comes home to roost, amazon will have their rollover period. when it gets down to the 218 range, we welcome take some off but i think it will go over and crack the $200 level. >> you wont to go an that one? >> no. i think it could have trouble going forward and perhaps that outage on christmas eve on netflix showed the kink in the armor on their web services. >>> wrapping to the highest level in 21 months, the yen hits mult multilevel lows versus the u.s. dollar. let's bring in kathy. great to have you. nice to see you. >> great to be on. >> certainly is a popular trade these days. is it too crowded and likely tie soon? >> there's your question. well, basically the yen trade is the trade of the year that everyone was calling for in 2013. we've already seen a huge move. so i think that, you know, there's a lot of people who have ran into the trade over the past month. i think that, you know, while there's still fundamental reasons for the dollar yen to move h
amazon is fighting many deficit fronts, fighting google, netflix, fighting apple. when eventually everything comes home to roost, amazon will have their rollover period. when it gets down to the 218 range, we welcome take some off but i think it will go over and crack the $200 level. >> you wont to go an that one? >> no. i think it could have trouble going forward and perhaps that outage on christmas eve on netflix showed the kink in the armor on their web services. >>>...
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about things about shaving one hundred billion dollars when we're when we're facing trillion dollar deficits. about. you know controlling this liberty or struck me down. regulation when we should be figuring out how to how to liberate. capitalistic enterprise yeah yeah so there is that the same thing that you look at all are there any other specific things that you think are concerning to you when you talk about that long term trajectory the u.s. is on shore well you know erick speaks about and is quite correct i think to speak about the theater that is engrossing the american population as they you know you get fed the other side g.d.p. statistics. and unemployment index i'm a little more instead of with what's going on behind that theater the militarization of the police you know the rise of the police state that those kind of things that you know i mean there are trains that you don't want to see leaving the station so it sounds like it's just as much about certain civil liberties as it is about the economic condition of the u.s. and i mean can you really separate the two because we're ta
about things about shaving one hundred billion dollars when we're when we're facing trillion dollar deficits. about. you know controlling this liberty or struck me down. regulation when we should be figuring out how to how to liberate. capitalistic enterprise yeah yeah so there is that the same thing that you look at all are there any other specific things that you think are concerning to you when you talk about that long term trajectory the u.s. is on shore well you know erick speaks about and...
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Dec 26, 2012
12/12
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CNBC
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it will add to what is already shaping up as a large production deficit. it's interesting, because in the middle of the year, they were saying 2013 we were going to have a big production surplus. doesn't look like it's going to go that way. however, it would be a help. this is not another gold or silver from the standpoint of causing a super explosion, in my opinion. >> what about oil, gas, the other liquids? >> i don't like natural gas. natural gas has kind of been a favorite because its long term prospects are excellent. if you ask me two, three, five years from now, i would be very bullish. right now we have record supplies. weather doesn't look that great. at least for the first part of the year, i don't particularly like it. now, crude oil over supplied market, more than abundant supply but i'm bullish. there's too much going on geopolitically. if we do have even this modest improvement in global demand for industrial commodities we talked about in copper, we will see that translate. i would not be short crude. i would be looking to buy weakness in cr
it will add to what is already shaping up as a large production deficit. it's interesting, because in the middle of the year, they were saying 2013 we were going to have a big production surplus. doesn't look like it's going to go that way. however, it would be a help. this is not another gold or silver from the standpoint of causing a super explosion, in my opinion. >> what about oil, gas, the other liquids? >> i don't like natural gas. natural gas has kind of been a favorite...
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Dec 28, 2012
12/12
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MSNBCW
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and the way we avoid further debt and deficit is to cut spending. >> will we hear -- their -- come up with debt limitations again the boehner principle for every dollar the debt limit is raised we have a cut in spending. that seems to me that -- where there is a huge ideological divide between both parties, republicans say the problem is about spending and democrats say it is all about lack of revenue, how -- how does -- is that bridged in this year? can it be bridged? >> yes, it can. both president obama and speaker boehner have already begun to do a principle compromise. speaker boehner said i'm ready to raise taxes on those over a million dollars. president obama said i'm ready to have a new type of chain to consumer price index which -- impacts entitlement reform. the bipartisan national debt commission, simpson-bowles commission, said for every dollar of spending reduction, including the entitlement reform we immediate to have $1 in tax revenue. that's the principle compromise we have to have. so they are not far off. what we have to have is very simple. $4 trillion in debt reduc
and the way we avoid further debt and deficit is to cut spending. >> will we hear -- their -- come up with debt limitations again the boehner principle for every dollar the debt limit is raised we have a cut in spending. that seems to me that -- where there is a huge ideological divide between both parties, republicans say the problem is about spending and democrats say it is all about lack of revenue, how -- how does -- is that bridged in this year? can it be bridged? >> yes, it...
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any of that they got everything as i've said i should iraq and now we're talking about reducing the deficit we're asking who's going to who's going to contribute to this and we have people on social security were asked to contribute we haven't asked people in wall street to contribute one dime to reducing the deficit right now for a problem that they caused i mean they caused this problem. at which which raises an important issue i mean it not only did has wall street caused this problem but look at his p.c. is the bank is just chinese one just because he had just played a they're based out of hong kong but they their main offices their largest office is actually in london and they are the third largest bank in the world in the sixth largest bank in the united states and this bank just pled guilty to funding terrorists both al qaeda and mexican drug cartels now my understanding is my understanding is that if you hand a couple million bucks to it it is actually that if you if you hand fifty dollars if you wire if you go to a liquor store in new york city where fifty bucks to some guy in paki
any of that they got everything as i've said i should iraq and now we're talking about reducing the deficit we're asking who's going to who's going to contribute to this and we have people on social security were asked to contribute we haven't asked people in wall street to contribute one dime to reducing the deficit right now for a problem that they caused i mean they caused this problem. at which which raises an important issue i mean it not only did has wall street caused this problem but...
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Dec 27, 2012
12/12
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CNBC
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direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been n
direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of...
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Dec 28, 2012
12/12
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CNBC
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i'm shaving a little bit off of this year's deficit. we're going to have fiscal problems for as far as the eye can see, an here's where an investor, a smart investor is going to want to diversify, especially into things like tangible assets like gold. >> you're going to make the case for gold here, which, you know, has had a heck of a run for the last decade or so, but it has started to show signs of wear and tear. what would propel gold from here necessarily? >> well, two things that i would have your viewers take a look at. the first is the reason why gold has kind of flattened out at about 1650 or so is because a huge amount of supply has come on the market. there's a lot of profit-takers who are worried about increased taxes next year. as you said, they have made a lot of money on gold, so they are selling it right now and locking in those profits. the other thing to look at that very few investors have caught on to but when i was at the mint we studied this, gold demand and gold prices correlate very well with the national debt cei
i'm shaving a little bit off of this year's deficit. we're going to have fiscal problems for as far as the eye can see, an here's where an investor, a smart investor is going to want to diversify, especially into things like tangible assets like gold. >> you're going to make the case for gold here, which, you know, has had a heck of a run for the last decade or so, but it has started to show signs of wear and tear. what would propel gold from here necessarily? >> well, two things...
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weeks the republicans and democrats have been trying to reach a deal on how to reduce the national deficit if they don't billions of dollars in tax hikes and spending cuts automatically come into effect on january the first activist and journalist says it's not the deadlock that bothers him but what has already been agreed upon. the real problem in my eyes is not the fact that they can't reach an agreement but rather that they have reached an agreement on many fundamental things the grievance they have reached is that neither of them are going to advocate to put more money in the hands of working people they have no problem whatsoever removing a trillion dollars or two trillion dollars from the economy and delivering it to the bankers they did that inside of twenty days back in two thousand and eight and again in two thousand and nine with very little discussion. everyone agrees on both sides of the aisle that sums sort of reduction in benefits from social security and medicare is inevitable quote unquote well you know the rest of us don't believe that it's inevitable or even that it's nec
weeks the republicans and democrats have been trying to reach a deal on how to reduce the national deficit if they don't billions of dollars in tax hikes and spending cuts automatically come into effect on january the first activist and journalist says it's not the deadlock that bothers him but what has already been agreed upon. the real problem in my eyes is not the fact that they can't reach an agreement but rather that they have reached an agreement on many fundamental things the grievance...
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Dec 25, 2012
12/12
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KCSMMHZ
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its economic position, driving away tourists and investors, stopping growth and pushing up the state deficit. that israel has approved the construction of 940 new homes -- >> israel has approved the construction of 940 new homes on the outskirts of jerusalem. for palestinians, the land as part of east jerusalem, which would serve as the capital of a future state. they say settlements there violate international law, but israel says it is an integral part of jerusalem, which it sees as its own capital. israel has been pressing ahead with plans to expand settlements since the palestinians were granted observer status at the u.n. to russia has put in place the last section of an oil pipeline from eastern siberia to the pacific. that is a link up that is now almost 5,000 kilometers long. >> the massive project is russia's oil fields direct access to key markets in japan, south korea, taiwan, the philippines, and the usa. >> after six years of construction and around 21 billion euros, the pipeline is complete. russia hopes it will be able to expand sales into the u.s. market. it also wants to sel
its economic position, driving away tourists and investors, stopping growth and pushing up the state deficit. that israel has approved the construction of 940 new homes -- >> israel has approved the construction of 940 new homes on the outskirts of jerusalem. for palestinians, the land as part of east jerusalem, which would serve as the capital of a future state. they say settlements there violate international law, but israel says it is an integral part of jerusalem, which it sees as its...
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Dec 27, 2012
12/12
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CSPAN
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finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. one was, the commiseration of blue-collar workers in the united states. there were some key elements. one was the proliferation of states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do you invest them? where do you keep them? you keep them with the low inflation rate. that is one reason. one mechanism that helps attract the capital from the rest of the world and close the loop. wall street was another. it has an amazing capacity to create a metaphysical value out of nothing. walmart was another. is promoted the ideology of cheapness, which was calculated -- encapsulated so brilliantly. nobody needs a gallon of pickles. i don't think it fits in a fridge. wh
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. one was, the commiseration of blue-collar workers in the united states. there were some key elements. one was the proliferation of states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were...
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Dec 22, 2012
12/12
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KCSM
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optimistic, paris has set a growth target of 0.8% for 2013 and says it is still confident it can cut its deficit to below the you-mandated level. a german power utility is cutting 1300 jobs as part of a 750 million euro cost-cutting program. >> it is germany's third biggest power company. most of the job losses will be among support and administrative staff. the company has struggled financially from having to shut down to below of its nuclear reactors over safety fears in the wake of the fukushima disaster. >> ratings agency standard and poor's has downgraded cypress again. its sovereign debt already has junk status. now it has gone down two more notches. >> cypress says it needs a decision on an international bailout within days to avoid a default. international monetary fund says talks are unlikely to be concluded this year. it needs the bailout to save its banks, which are heavily exposed to greet debt. well, germans are losing their appetite for spending money. consumer confidence has fallen for the second month in a row according to market research group gfk. >> they polled 2000 german sho
optimistic, paris has set a growth target of 0.8% for 2013 and says it is still confident it can cut its deficit to below the you-mandated level. a german power utility is cutting 1300 jobs as part of a 750 million euro cost-cutting program. >> it is germany's third biggest power company. most of the job losses will be among support and administrative staff. the company has struggled financially from having to shut down to below of its nuclear reactors over safety fears in the wake of the...
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Dec 28, 2012
12/12
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CNNW
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it was to raise awareness about deficit and debt. >> what was awesome about that >> everything. >> roland is right. there was nothing awesome about that. as a matter of fact, roland is right, john. there's nothing right. nothing. >> john's problem is inside, he's a very old man, too. i mean, it proves old people should really -- really old people should never use social media. >> an old man who is in debt and deficits. >> he's going to do the hammer dance? >> alan sem son impson is one o great public servants who will say or do whatever it takes to get people's attention on issues that really matter. skip and this group that sponsored it is the can kicks back. it's not 200 million views. >> i wish we could see al franken dancing in a unitard to fight violence against women. >> make the cut. >> senator franken. >> >> who picked the list? >> we all did it "outfront." >>> up next, a rust belt bright spot in 2013. we're going to take you there, next. [ male announcer ] rocky had no idea why dawn was gone for so long... ...but he'd wait for her forever, for any reason, and would always be ther
it was to raise awareness about deficit and debt. >> what was awesome about that >> everything. >> roland is right. there was nothing awesome about that. as a matter of fact, roland is right, john. there's nothing right. nothing. >> john's problem is inside, he's a very old man, too. i mean, it proves old people should really -- really old people should never use social media. >> an old man who is in debt and deficits. >> he's going to do the hammer dance?...
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Dec 26, 2012
12/12
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CSPAN
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it should not be done as part of a deficit reduction. it should be done to secure the solvency of social security. healthcare little different circumstance because that is the 800 pound gorilla. if you look at growth as a share of g.d.p., the healthcare accounts interest on the debt, that's where it's at. it's not in the discretionary accounts or social security. the place we are having very significant growth of a share of g.d.p. is in the healthcare accounts. and as i indicated as a nation we are spending so much more than anybody else and the other countries that are advanced are actually with less expenditures a share of their national income are getting better healthcare out comes. so there say chance for savings -- so there is a chance ofor savings without hurting beneficiaries and with actually improving the competitive position of our economy. >> richard man will give the mike to the individuals and identify youself and what your question is. >> i'm a reporter with lrp publications. in the chart that talked about the $1 trillion
it should not be done as part of a deficit reduction. it should be done to secure the solvency of social security. healthcare little different circumstance because that is the 800 pound gorilla. if you look at growth as a share of g.d.p., the healthcare accounts interest on the debt, that's where it's at. it's not in the discretionary accounts or social security. the place we are having very significant growth of a share of g.d.p. is in the healthcare accounts. and as i indicated as a nation we...
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Dec 28, 2012
12/12
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KQED
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insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> all of this still developing. and we will have more on all of it with mark shields and david brooks later in the program. >> also ahead >> warner: also ahead, between now and then; protesting a gang rape in india; mass producing high quality education and remembering general norman schwarzkopf. but first, the other news of the day. here's kwame holman. >> holman: the u.s. economy has dodged a potentially crippling strike at ports up and down the east coast and gulf coast at least, for now. the longshoremen's union agreed today to extend its existing contract by another month. that word came after the union and shipping lines worked out a deal on royalty payments for unloading containers. the contract extension gives the two sides time to resolve their remaining issues. wall street finished the week with its fifth straight losing session. stocks have been falling as concern mounts that washington will fail to get
insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> all of this still developing. and we will have more on all of it with mark shields and david brooks later in the program. >> also ahead >> warner: also ahead, between now and then; protesting a gang rape in india; mass producing high quality education and remembering general norman schwarzkopf. but...
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Dec 26, 2012
12/12
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CSPAN
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being used to help to people in united states of america who are in need of help, or help reduce the deficit that was testified to be the greatest national security threat to the united states of america. it is a matter of priorities. i appreciate the very noble -- i emphasize the word noble -- effort to help people who are in harm's also way in various parts of the world. my colleague from florida mentioned somalia. certainly in vietnam we tried to do the noble things. we're in a different financial reality. in the absence of a national security interest in the congo, i am afraid that sequestration will force us to retract even though we may wish to the contrary. i yield back the remainder of my time. >> a couple of questions. sequestration is not only obama's, but also our responsibility. i believe we voted for it. >> i did not vote for it. >> we talked about this whole issue. it has been suggested that perhaps -- >> $80 million. is that more or less correct? [indiscernible] >> we will hear that in a few moments. if that is correct, i would point out that this really is a national security
being used to help to people in united states of america who are in need of help, or help reduce the deficit that was testified to be the greatest national security threat to the united states of america. it is a matter of priorities. i appreciate the very noble -- i emphasize the word noble -- effort to help people who are in harm's also way in various parts of the world. my colleague from florida mentioned somalia. certainly in vietnam we tried to do the noble things. we're in a different...
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had it been part of the year is that in two thousand and eight and i ask of course because our budget deficit is still knowledge and then the average here is a country that is i think we've been part of the euro zone we would have been in the worst position because we didn't wouldn't have our own currency and we wouldn't have our own central bank and also you know i have to say is the person that had to take a decision as to whether or we should stop the banking system collapse i could take that decision consulting with the prime minister and we did it overnight if we did bob you reserve my guess is going on i would still be asking the question and discussing it no i don't i i just despair of the score off it decision making in the euro zone or inability in greece for example after two years to come to something that looks like it's credible it's going to stick and we have had our in currency for and we've seen a thirty percent depreciation in standing over. reason is why then have we been unable to export our way out of trouble i think is partly because of the depressed state of the world ec
had it been part of the year is that in two thousand and eight and i ask of course because our budget deficit is still knowledge and then the average here is a country that is i think we've been part of the euro zone we would have been in the worst position because we didn't wouldn't have our own currency and we wouldn't have our own central bank and also you know i have to say is the person that had to take a decision as to whether or we should stop the banking system collapse i could take...
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Dec 27, 2012
12/12
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CNBC
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i think the words "come together" means something deficit to all of us. in the spirit of the holidays, in an effort to bring all our political leaders, i think "come together" means a lot. >> now, this come together message will go not only on coffee cups in the area but across old and new media. when we sat down and talked to customers here, it really really resonates with what customers want to see done. >> they do need to come together and i think they need to get this settled before we do go off the fiscal cliff because i think a lot of people are really stressed out. >>> think that message "come together" is exactly what needs to happen. i'm frustrated by six, 10 people who think they can hold out to get their last little pork or thing into the bill, that seems unfortunate. >> of course, in the age of social media, in particular, no message of any kind goes untweeted. we did hear from house speaker john boehner's spokesman, brendan buck, who tweeted quote my capitol hill location did not have an inspirational message. i feel so lost. and so it goes.
i think the words "come together" means something deficit to all of us. in the spirit of the holidays, in an effort to bring all our political leaders, i think "come together" means a lot. >> now, this come together message will go not only on coffee cups in the area but across old and new media. when we sat down and talked to customers here, it really really resonates with what customers want to see done. >> they do need to come together and i think they need to...
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had it been part of the year is that in two thousand and eight and i ask of course because our budget deficit is still larger than the average euro zone countries is i think we've been part of the euro zone we would have been a worse position because we didn't wouldn't have our own currency and we wouldn't have our own central bank and also you know i. probably should have stopped. have we been unable to export our way out of trouble i think is partly because of the depressed state of the world economy you know we sell a lot to america and america's growing but at a pretty low rate look at the euro zone where half of what we produce goes the eurozone is in recession and you know that ok the germans are doing a little bit better than that but it's not surprising you know if you've got this sort of don't term that you don't automatically get the benefit you would expect but you know there's been a lot of discussion in britain by rebalancing the economy you know that's fine but it's very difficult to do it when that economy is in recession what do you make of the current debate about changing ou
had it been part of the year is that in two thousand and eight and i ask of course because our budget deficit is still larger than the average euro zone countries is i think we've been part of the euro zone we would have been a worse position because we didn't wouldn't have our own currency and we wouldn't have our own central bank and also you know i. probably should have stopped. have we been unable to export our way out of trouble i think is partly because of the depressed state of the world...
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Dec 28, 2012
12/12
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WJZ
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insurance is still available for 2 million people and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> all of this still developing. and we will have more on all of it with mark shields and david brooks later in the program. >> also ahead >> warner: also ahead, between now and then; protesting a gang rape in india; mass producing high quality education and remembering general norman schwarzkopf. but first, the other news of the day. here's kwame holman. >> holman: the u.s. economy has dodged a potentially crippling strike at ports up and down the east coast and gulf coast at least, for now. the longshoremen's union agreed today to extend its existing contract by another month. that word came after the union and shipping lines worked out a deal on royalty payments for unloading containers. the contract extension gives the two sides time to resolve their remaining issues. wall street finished the week with its fifth straight losing session. stocks have been falling as concern mounts that washington will fail to get
insurance is still available for 2 million people and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> all of this still developing. and we will have more on all of it with mark shields and david brooks later in the program. >> also ahead >> warner: also ahead, between now and then; protesting a gang rape in india; mass producing high quality education and remembering general norman schwarzkopf. but...
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Dec 29, 2012
12/12
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KRCB
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eye 161
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still the crushing deficit is so they still have to do some big things let alone optimism gration reform and other stuff. it's a little like tarp, remember the hse voted no then the markets just could lapsd. i think we might see something like that in the first week in january and then a focus. but they will still be with cooperation. >> we have already seen an emotion of public confidence and a slowdown of economic activity. so i mean it's like this has already built in. i agree with david that the tarp analogy is a valid one but i think tarp was so dramatic and immediate. this is almost going to slow change. it is like it's built in. >> havinging what imact-- impact on the public wince think a loss of consumer certainty, consumer confidence and comes back to not to sound like good government 101 but come back to the fact confidence in the public sector. you want to do something bim gration, about climate change. in order to do that, there has to be a public reservoir of public confidence that we can act effectively. the government can be an instrument of change for the better. if the g
still the crushing deficit is so they still have to do some big things let alone optimism gration reform and other stuff. it's a little like tarp, remember the hse voted no then the markets just could lapsd. i think we might see something like that in the first week in january and then a focus. but they will still be with cooperation. >> we have already seen an emotion of public confidence and a slowdown of economic activity. so i mean it's like this has already built in. i agree with...
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90
Dec 26, 2012
12/12
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CSPAN
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that would cut the deficit in half. that would affect the ability to finance this larger government than he has created. so that would be consistent with his vision. then we would have a cry for tax reform act of top rates on the wealthy would be too high if you are running a small business. so they would eliminate some deductions. the tax burden overall would be about the same. and the deficit if with starts to wind down. the problem is president obama has also presided over a french- style growth rates of 2% per year. is not the worst of jamee have been been in the post world war era. -- this is not the worst jam. reagan had the economy growing at 6%. whereas mr. obama, to%. the downside has been the notion of accepting a much slower broken. longer-term, the pyramid of our society is getting more like a column, because we're having more and more older people -- people are living older and we can raise the retirement age. even with that we will have a larger elderly population to take care of. 2% growth becomes very di
that would cut the deficit in half. that would affect the ability to finance this larger government than he has created. so that would be consistent with his vision. then we would have a cry for tax reform act of top rates on the wealthy would be too high if you are running a small business. so they would eliminate some deductions. the tax burden overall would be about the same. and the deficit if with starts to wind down. the problem is president obama has also presided over a french- style...
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Dec 28, 2012
12/12
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FOXNEWSW
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. >> warren buffett could pay off the deficit he wanted to. but it is to be that a deal will happen after january 1. does that make any difference? >> yes, it does. i think some of all this panic is a little bit overwrought. if they don't reach a deal in the next 22 hours or so, then we go into january, and the stakes get so much higher. as you said, people will start feeling immediately the effect of those higher taxes. and that will put the pressure on the congress and president reach a deal. if they don't reach a deal on december 31, which is my prediction, i believe sometime before the end of january, they will reach a deal. but my goodness. one of the things that is frustrating is we have known this day was coming for the last two years. yet here we are, 72 hours away and we don't have a resolution. gregg: this is a contrivance that they are desperately trying to fix. our member the president said in a debate, the debate, he said that i didn't come up with this. then bob woodward came out and said, yes, you did. you know, both a top aide
. >> warren buffett could pay off the deficit he wanted to. but it is to be that a deal will happen after january 1. does that make any difference? >> yes, it does. i think some of all this panic is a little bit overwrought. if they don't reach a deal in the next 22 hours or so, then we go into january, and the stakes get so much higher. as you said, people will start feeling immediately the effect of those higher taxes. and that will put the pressure on the congress and president...